Blackstone Group LP (BX) Receives Average Recommendation of “Buy” from Analysts

Blackstone Group LP (NYSE:BX) has received an average rating of “Buy” from the thirteen analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $44.05.

BX has been the topic of several analyst reports. Zacks Investment Research lowered shares of Blackstone Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 3rd. ValuEngine upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Finally, Morgan Stanley increased their price target on shares of Blackstone Group from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. They noted that the move was a valuation call.

In other Blackstone Group news, Director Bennett J. Goodman sold 115,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $39.58, for a total value of $4,551,700.00. Following the sale, the director now owns 250,000 shares in the company, valued at $9,895,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings L.P. Blackstone III bought 109,500 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $23.95 per share, for a total transaction of $2,622,525.00. The disclosure for this purchase can be found here. Insiders acquired 1,254,188 shares of company stock worth $30,201,534 in the last 90 days. Company insiders own 1.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Resources Investment Advisors Inc. raised its stake in shares of Blackstone Group by 606.0% during the first quarter. Resources Investment Advisors Inc. now owns 706 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 606 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Blackstone Group by 69.4% during the first quarter. Sound Income Strategies LLC now owns 732 shares of the asset manager’s stock valued at $26,000 after buying an additional 300 shares during the last quarter. Investors Research Corp bought a new stake in shares of Blackstone Group during the first quarter valued at approximately $28,000. Essex Savings Bank purchased a new position in shares of Blackstone Group in the fourth quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Blackstone Group in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 47.19% of the company’s stock.

Shares of NYSE BX traded up $0.90 during trading hours on Thursday, hitting $40.98. 4,568,500 shares of the stock were exchanged, compared to its average volume of 3,831,943. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $26.48 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 0.87 and a beta of 1.41. Blackstone Group has a 1-year low of $26.88 and a 1-year high of $42.12.

Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.08). The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.48 billion. Blackstone Group had a return on equity of 12.79% and a net margin of 23.35%. The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. On average, equities research analysts forecast that Blackstone Group will post 2.35 earnings per share for the current year.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

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Analyst Recommendations for Blackstone Group (NYSE:BX)

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